Report Description

Forecast Period

2024-2028

Market Size (2022)

USD 9.73 Billion

CAGR (2023-2028)

8%

Fastest Growing Segment

Type 2 Diabetes

Largest Market

North America

Market Overview

Global Self-monitoring Blood Glucose Market has valued at USD 9.73 Billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 8% through 2028. Blood glucose monitoring plays a crucial role in empowering diabetic patients to make informed daily management decisions regarding food intake, insulin dosage and physical exercise. Self-monitoring blood glucose (SMBG) represents a contemporary diabetes management procedure that entails the use of blood glucose meters by patients to quickly check their glucose levels and obtain accurate measurements of capillary glucose concentration. SMBG technology, encompassing test strips, lancets, and blood glucose meters, facilitates long-term glycemic control. By analyzing readings, individuals can adjust treatment, evaluate the impact of antidiabetics and stress management, and make informed decisions regarding diet, insulin dosage, and physical exercise, among other factors. This comprehensive process involves the utilization of test strips, lancets, and blood glucose meters to achieve sustained glycemic control.

Key Market Drivers

High Prevalence of Diabetes

The increase in the geriatric population and the high prevalence of diabetes, along with the rising risk factors associated with diabetes, are key drivers for the growth of the self-monitoring of blood glucose (SMBG) market. Furthermore, government initiatives aimed at raising awareness among the population also contribute to the market's growth. However, it should be noted that the devices do not measure the exact level of glucose in the blood, which can result in inaccurate results. Moreover, the lack of reimbursement and stringent regulations for these devices may hinder the overall market growth. Nevertheless, there are untapped opportunities in emerging markets, and the growing awareness about diabetes monitoring devices is expected to generate new prospects within the forecast period. However, challenges such as the lack of patient awareness and the high cost of advanced devices and accessories are projected to impede the market's growth.

Technological Advancement

Technological advancements have revolutionized the blood glucose monitoring devices market, enhancing accuracy, user-friendliness, and connectivity with healthcare providers. Continuous Glucose Monitoring (CGM) systems, for instance, offer real-time glucose readings and trends, minimizing the need for frequent fingerstick tests. The integration of mobile apps and wireless connectivity has bolstered data management and improved patient outcomes. Leading market players such as Abbott Laboratories, Medtronic plc, Roche Diabetes Care, Dexcom, Inc., and Ascensia Diabetes Care Holdings AG are investing in research and development to introduce innovative products. Stringent regulations govern the blood glucose monitoring devices market to ensure patient safety and device efficacy, with device approval and post-market surveillance overseen by the FDA and EMA. The rise in technological advancements in the field of blood glucose monitoring devices is driving the growth of the global market. With advancing technology, these devices are now widely accessible in different forms, sizes, and testing durations. The development of compact and portable devices facilitates convenient handling, thereby increasing demand. Furthermore, medical advancements contribute to the early detection of hyper and hypoglycemic diabetes, thus further fueling global market growth.

Rising Cases of Obesity

The changing lifestyle and increasing prevalence of alcohol and smoking consumption have contributed to a continuous rise in diabetes cases, resulting in a heightened demand for such devices. The escalating rates of obesity further drive the growth of the global self-monitoring blood glucose devices market. Additionally, the expanding geriatric population worldwide is fueling market growth. The growing awareness among individuals regarding preventive care for diabetes is a key driver for the global market's expansion. However, the outbreak of the coronavirus has significantly impacted people's lifestyles, with lockdown measures transforming active behaviors into sedentary ones. Consequently, these factors have led to an increase in diabetes cases and subsequently boosted the demand for such devices. The surge in government initiatives aimed at reducing diabetes cases has positively influenced the trajectory of the global self-monitoring blood glucose devices market throughout the forecast period.

Rising Number of Geriatric Population

The aging population is more susceptible to developing diabetes. Self-monitoring blood glucose devices cater to the needs of elderly individuals, allowing them to manage their diabetes independently and efficiently. s people age, their cells may become less sensitive to insulin, leading to insulin resistance. This reduced sensitivity makes it more challenging for the body to regulate blood glucose levels effectively. Many older adults may lead more sedentary lifestyles, which can contribute to weight gain and worsen insulin resistance. Unhealthy eating habits over the years can lead to obesity and metabolic disorders, increasing the risk of type 2 diabetes. elf-monitoring blood glucose devices allow older adults to check their blood glucose levels at home or on the go. Regular monitoring helps them track their condition and make necessary adjustments to their treatment plan. With self-monitoring devices, elderly individuals can manage their diabetes independently, reducing their dependence on others for daily monitoring.


Key Market Challenges

Compliance and Adherence

Regular and consistent blood glucose monitoring is essential for effective diabetes management. However, some individuals may struggle with adherence, either due to forgetfulness, discomfort associated with testing, or a lack of motivation. Properly using self-monitoring blood glucose devices requires some level of technical skill and knowledge. Some elderly individuals or those with limited dexterity may find it challenging to operate the devices correctly. Self-monitoring blood glucose devices need to be accurately calibrated and maintained to provide reliable results. Incorrect calibration or using expired test strips can lead to inaccurate readings.

Low Rate of Diagnosis in Emerging Countries

The presence of a significant proportion of undiagnosed individuals with diabetes is a major contributing factor to the lower adoption of Blood Glucose Monitoring Systems, particularly in emerging countries. The prevalence of delayed diagnosis is higher in countries like China, India, South Africa, Brazil, and others, compared to developed nations. Additionally, limited awareness among the general population regarding chronic diseases such as diabetes mellitus, coupled with restricted access to advanced healthcare infrastructure and inadequate conventional procedures by government or private organizations, may impede growth.

For example, as per data published by the International Diabetes Federation in 2021, nearly half of the diabetes patients in Africa remain undiagnosed, while in the Asia Pacific region, the proportion of undiagnosed individuals with diabetes is around 55.0%, primarily driven by countries like India, China, and Indonesia. Thus, the aforementioned factors, alongside the absence of reimbursement plans for CGM & SMBG systems, significantly contribute to lower diagnosis and treatment rates, subsequently limiting the implementation of these systems in developing countries.

Key Market Trends

New Product Launches in the Market

Prominent companies operating in the self-monitoring blood glucose (SMBG) devices market are strategically focused on developing innovative technological solutions to enhance their market position. For instance, in August 2022, Intuity Medical, Inc., a commercial-stage medical technology and digital health company committed to simplifying life with diabetes, introduced the POGO Automatic® Blood Glucose Monitoring System at over 2,200 US pharmacies operated by Kroger Health, the healthcare division of The Kroger Co. The POGO Automatic from Intuity Medical is the sole FDA-approved automatic blood glucose monitor featuring 10-test cartridge technology, eliminating the need for individuals with diabetes to carry or load separate lancets and test strips. It effortlessly lances, collects blood, and provides a glucose result with just a touch of a button.

Increasing Funding and Investments

Boosting funding and investments will facilitate research and development activities, as well as new technology advancements and projects. Market players are securing funding and investments aimed at digital transformation for improved efficiency. For example, in September 2022, Transdermal Diagnostics, a UK-based technology platform dedicated to enhancing the prevention, diagnosis, and management of chronic conditions, announced the successful completion of their oversubscribed £1.1 million ($1.31 million) pre-seed investment round. This funding will be utilized to develop a cost-effective, 100% needle-free glucose monitor, improving access to affordable blood sugar monitoring and assisting diabetics in leading longer, healthier lives. With the aid of Transdermal Diagnostics' new technology, individuals with diabetes may potentially slow down or even halt the progression of their condition by painlessly monitoring their blood glucose levels. Furthermore, in May 2022, Labcorp, a leading global life sciences company and commercial laboratory, launched an at-home collection kit that measures hemoglobin A1c and assesses the risk of diabetes using a small blood sample.

Segmental Insights

End User Insights

The hospital segment is projected to dominate the market during the forecast period, driven by the improving infrastructure and increasing healthcare expenditure in hospitals. Furthermore, BGM devices provide reliable data to practitioners within seconds, enhancing patient care quality in both outpatient and inpatient settings. Hospitals also have robust provisions for storing and transferring patient information. Additionally, in response to the COVID-19 pandemic, the FDA authorized the use of CGM devices in hospitals, and the potential for future pandemics is expected to further drive segment growth.

The home care segment is anticipated to exhibit the highest growth rate throughout the forecast period. Self-monitoring of blood glucose has revolutionized home-based glucose monitoring and is widely adopted worldwide as a short-term glucose monitoring method. Self-monitoring blood glucose (SMBG) allows individuals, with or without diabetes, to measure their blood sugar levels in the comfort of their homes. This approach enables patients to assess the effects of their treatment, including diet, insulin, exercise, and stress management, based on their blood glucose readings.

Application Insights

In terms of application, the market can be categorized into gestational, type 2, and type 1 diabetes. Type 2 diabetes holds the largest market share in the global self-monitoring blood glucose devices market. It is a chronic, lifelong condition that affects the processing and monitoring of sugar levels. Type 2 diabetes is the most common form of diabetes, accounting for the majority of diabetes cases globally. The rising prevalence of Type 2 diabetes, particularly due to lifestyle factors like sedentary habits, unhealthy diets, and obesity, is contributing to the expanding market for self-monitoring blood glucose devices. Effective management of Type 2 diabetes requires regular blood glucose monitoring. Self-monitoring blood glucose devices play a vital role in helping individuals with Type 2 diabetes track their glucose levels and make necessary adjustments to their treatment plans, contributing to the market growth.

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Regional Insights

The escalating incidence and prevalence of diabetes patients, along with healthcare expenditure, in the United States indicate a growing utilization of Self-monitoring Blood Glucose (SMBG) devices. North America is projected to be the dominant market, driven by factors such as the widespread availability of SMBG devices, high consumer awareness, and favorable reimbursement policies. The prevalence of diabetes has witnessed a significant surge in the past two decades in North America, primarily attributed to the increased prevalence of obesity and lifestyle changes. Furthermore, the region exhibits higher carbohydrate consumption, which contributes to the rising obesity rates. The United States, within North America, represents one of the countries experiencing rapid growth in chronic diseases, and it stands as the largest demand-generating country for SMBG devices.

Recent Developments

In 2022, LifeScan announced the publication of Real World Evidence in the peer-reviewed journal Diabetes Technology and Therapeutics (DTT). The study demonstrates the efficacy of using a Bluetooth-connected Blood Glucose Meter with Mobile Diabetes Management Application, specifically the OneTouch Reveal mobile app with the OneTouch Verio Reflect meter. The results indicate that this technology, which utilizes Bluetooth wireless connectivity, has the potential to significantly enhance glycemic control in individuals with diabetes.

In August 2021, FIND made announcements regarding agreements signed with i-SENS, Inc (Seoul, South Korea) and SD BIOSENSOR, Inc (Suwon-si, South Korea). These agreements aim to improve the availability and affordability of blood glucose test strips, particularly in low- and middle-income countries (LMICs).

In December 2020, Nemaura, a U.K.-based company, introduced ProBEAT, a non-invasive glucose monitoring patch that offers users valuable feedback and insights into the various factors influencing blood glucose levels. DiaMonTech AG, a German-based company, was officially awarded the QMS certification for the design and development of its patented non-invasive "no prick" photothermal detection technology.

Key Market Players

  • Abbott Laboratories
  • Medtronic plc
  • F. Hoffmann-La Roche Ltd
  • Ascensia Diabetes Care
  • Dexcom, Inc.
  • Sanofi
  • Novo Nordisk
  • Insulet Corporation
  • Ypsomed Holdings
  • Glysens Incorporated

By Product

By Application

By End User

By Region

Self-monitoring Blood Glucose Meters

Continuous Glucose Monitor

Testing Strips

Lancets

Type 1 Diabetes

Type 2 Diabetes

Gestational Diabetes

Hospitals

Home Settings

Diagnostic Centers

North America

Europe

Asia Pacific

South America

Middle East & Africa

 

Report Scope:

In this report, the Global Self-monitoring Blood Glucose Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Self-monitoring Blood Glucose Market, By Product:

o   Self-monitoring Blood Glucose Meters

o   Continuous Glucose Monitors

o   Testing Strips

o   Lancets

  • Self-monitoring Blood Glucose Market, By Application:

o   Type 1 Diabetes

o   Type 2 Diabetes

o   Gestational Diabetes

  • Self-monitoring Blood Glucose Market, By End User:

o   Hospitals

o   Home Settings,

o   Diagnostic Centers

  • Self-monitoring Blood Glucose Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  France

§  United Kingdom

§  Italy

§  Germany

§  Spain

o   Asia-Pacific

§  China

§  India

§  Japan

§  Australia

§  South Korea

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

§  Kuwait

§  Turkey

§  Egypt

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Self-monitoring Blood Glucose Market.

Available Customizations:

Global Self-monitoring Blood Glucose market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global Self-monitoring Blood Glucose Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Product Overview

2.    Research Methodology

3.    Executive Summary

4.    Voice of Customer

5.    Global Self-monitoring Blood Glucose Market Outlook

5.1.  Market Size & Forecast

5.1.1.    By Value

5.2.  Market Share & Forecast

5.2.1.    By Product (Self-monitoring Blood Glucose Meters, Continuous Glucose Monitors, Testing Strips, Lancets)

5.2.2.    By Application (Type 1 Diabetes, Type 2 Diabetes, Gestational Diabetes)

5.2.3.    By End User (Hospitals, Home Settings, and Diagnostic Centres)

5.2.4.    By Region

5.2.5.    By Company (2022)

5.3.  Market Map

6.    North America Self-monitoring Blood Glucose Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By Product

6.2.2.    By Application

6.2.3.    By End User

6.2.4.    By Country

6.3.  North America: Country Analysis

6.3.1.    United States Self-monitoring Blood Glucose Market Outlook

6.3.1.1.        Market Size & Forecast

6.3.1.1.1.           By Value

6.3.1.2.        Market Share & Forecast

6.3.1.2.1.           By Product

6.3.1.2.2.           By Application

6.3.1.2.3.           By End User

6.3.2.    Canada Self-monitoring Blood Glucose Market Outlook

6.3.2.1.        Market Size & Forecast

6.3.2.1.1.           By Value

6.3.2.2.        Market Share & Forecast

6.3.2.2.1.           By Product

6.3.2.2.2.           By Application

6.3.2.2.3.           By End User

6.3.3.    Mexico Self-monitoring Blood Glucose Market Outlook

6.3.3.1.        Market Size & Forecast

6.3.3.1.1.           By Value

6.3.3.2.        Market Share & Forecast

6.3.3.2.1.           By Product

6.3.3.2.2.           By Application

6.3.3.2.3.           By End User

7.    Europe Self-monitoring Blood Glucose Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By Product

7.2.2.    By Application

7.2.3.    By End User

7.2.4.    By Country

7.3.  Europe: Country Analysis

7.3.1.    Germany Self-monitoring Blood Glucose Market Outlook

7.3.1.1.        Market Size & Forecast

7.3.1.1.1.           By Value

7.3.1.2.        Market Share & Forecast

7.3.1.2.1.           By Product

7.3.1.2.2.           By Application

7.3.1.2.3.           By End User

7.3.2.    United Kingdom Self-monitoring Blood Glucose Market Outlook

7.3.2.1.        Market Size & Forecast

7.3.2.1.1.           By Value

7.3.2.2.        Market Share & Forecast

7.3.2.2.1.           By Product

7.3.2.2.2.           By Application

7.3.2.2.3.           By End User

7.3.3.    Italy Self-monitoring Blood Glucose Market Outlook

7.3.3.1.        Market Size & Forecast

7.3.3.1.1.           By Value

7.3.3.2.        Market Share & Forecasty

7.3.3.2.1.           By Product

7.3.3.2.2.           By Application

7.3.3.2.3.           By End User

7.3.4.    France Self-monitoring Blood Glucose Market Outlook

7.3.4.1.        Market Size & Forecast

7.3.4.1.1.           By Value

7.3.4.2.        Market Share & Forecast

7.3.4.2.1.           By Product

7.3.4.2.2.           By Application

7.3.4.2.3.           By End User

7.3.5.    Spain Self-monitoring Blood Glucose Market Outlook

7.3.5.1.        Market Size & Forecast

7.3.5.1.1.           By Value

7.3.5.2.        Market Share & Forecast

7.3.5.2.1.           By Product

7.3.5.2.2.           By Application

7.3.5.2.3.           By End User

8.    Asia-Pacific Self-monitoring Blood Glucose Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By Product

8.2.2.    By Application

8.2.3.    By End User

8.2.4.    By Country

8.3.  Asia-Pacific: Country Analysis

8.3.1.    China Self-monitoring Blood Glucose Market Outlook

8.3.1.1.        Market Size & Forecast

8.3.1.1.1.           By Value

8.3.1.2.        Market Share & Forecast

8.3.1.2.1.           By Product

8.3.1.2.2.           By Application

8.3.1.2.3.           By End User

8.3.2.    India Self-monitoring Blood Glucose Market Outlook

8.3.2.1.        Market Size & Forecast

8.3.2.1.1.           By Value

8.3.2.2.        Market Share & Forecast

8.3.2.2.1.           By Product

8.3.2.2.2.           By Application

8.3.2.2.3.           By End User

8.3.3.    Japan Self-monitoring Blood Glucose Market Outlook

8.3.3.1.        Market Size & Forecast

8.3.3.1.1.           By Value

8.3.3.2.        Market Share & Forecast

8.3.3.2.1.           By Product

8.3.3.2.2.           By Application

8.3.3.2.3.           By End User

8.3.4.    South Korea Self-monitoring Blood Glucose Market Outlook

8.3.4.1.        Market Size & Forecast

8.3.4.1.1.           By Value

8.3.4.2.        Market Share & Forecast

8.3.4.2.1.           By Product

8.3.4.2.2.           By Application

8.3.4.2.3.           By End User

8.3.5.    Australia Self-monitoring Blood Glucose Market Outlook

8.3.5.1.        Market Size & Forecast

8.3.5.1.1.           By Value

8.3.5.2.        Market Share & Forecast

8.3.5.2.1.           By Product

8.3.5.2.2.           By Application

8.3.5.2.3.           By End User

9.    South America Self-monitoring Blood Glucose Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.    By Product

9.2.2.    By Application

9.2.3.    By End User

9.2.4.    By Country

9.3.  South America: Country Analysis

9.3.1.    Brazil Self-monitoring Blood Glucose Market Outlook

9.3.1.1.        Market Size & Forecast

9.3.1.1.1.           By Value

9.3.1.2.        Market Share & Forecast

9.3.1.2.1.           By Product

9.3.1.2.2.           By Application

9.3.1.2.3.           By End User

9.3.2.    Argentina Self-monitoring Blood Glucose Market Outlook

9.3.2.1.        Market Size & Forecast

9.3.2.1.1.           By Value

9.3.2.2.        Market Share & Forecast

9.3.2.2.1.           By Product

9.3.2.2.2.           By Application

9.3.2.2.3.           By End User

9.3.3.    Colombia Self-monitoring Blood Glucose Market Outlook

9.3.3.1.        Market Size & Forecast

9.3.3.1.1.           By Value

9.3.3.2.        Market Share & Forecast

9.3.3.2.1.           By Product

9.3.3.2.2.           By Application

9.3.3.2.3.           By End User

10. Middle East and Africa Self-monitoring Blood Glucose Market Outlook

10.1.   Market Size & Forecast        

10.1.1. By Value

10.2.   Market Share & Forecast

10.2.1. By Product

10.2.2. By Application

10.2.3. By End User

10.2.4. By Country

10.3.   MEA: Country Analysis

10.3.1. South Africa Self-monitoring Blood Glucose Market Outlook

10.3.1.1.     Market Size & Forecast

10.3.1.1.1.         By Value

10.3.1.2.     Market Share & Forecast

10.3.1.2.1.         By Product

10.3.1.2.2.         By Application

10.3.1.2.3.         By End User

10.3.2. Saudi Arabia Self-monitoring Blood Glucose Market Outlook

10.3.2.1.     Market Size & Forecast

10.3.2.1.1.         By Value

10.3.2.2.     Market Share & Forecast

10.3.2.2.1.         By Product

10.3.2.2.2.         By Application

10.3.2.2.3.         By End User

10.3.3. UAE Self-monitoring Blood Glucose Market Outlook

10.3.3.1.     Market Size & Forecast

10.3.3.1.1.         By Value

10.3.3.2.     Market Share & Forecast

10.3.3.2.1.         By Product

10.3.3.2.2.         By Application

10.3.3.2.3.         By End User

11. Market Dynamics

12. Market Trends & Developments

13. Global Self-monitoring Blood Glucose Market: SWOT Analysis

14. Competitive Landscape

14.1.   Business Overview

14.2.   Product Offerings

14.3.   Recent Developments

14.4.   Key Personnel

14.5.   SWOT Analysis

14.5.1. Abbott Laboratories

14.5.2. Medtronic plc

14.5.3. F. Hoffmann-La Roche Ltd

14.5.4. Ascensia Diabetes Care

14.5.5. Dexcom, Inc.

14.5.6. Sanofi

14.5.7. Novo Nordisk

14.5.8. Insulet Corporation

14.5.9. Ypsomed Holdings

14.5.10.              Glysens Incorporated

15. Strategic Recommendations

About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The market size of the Global Self-monitoring Blood Glucose Market was estimated to be USD 9.73 Billion in 2022.

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In 2023, the type-2 diabetes segment is projected to hold the largest share of the blood glucose monitoring devices market. This significant market share can be attributed to factors including the substantial population of individuals with type-2 diabetes, the growing number of people leading sedentary lifestyles with no physical activity, and the high prevalence of obesity.

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The rising prevalence of obesity, high treatment costs, technological advancements, and product innovations are anticipated to propel the regional market of North America. Europe is projected to attain a substantial revenue share during the forecast period, primarily driven by the growing geriatric population, which is susceptible to diabetes. Furthermore, enhancements in the healthcare sector and the adoption of advanced medical devices are fostering the demand for BGMs in the region.

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Increasing prevalence of diabetes and growing geriatric population are the major drivers for the Global Self-monitoring Blood Glucose Market.

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Sakshi Bajaal

Business Consultant
Press Release

Self-monitoring Blood Glucose Market to Grow with a CAGR of 8.0% through 2028

Aug, 2023

Increasing healthcare expenditure and growing elderly population is expected to drive the Global Self-monitoring Blood Glucose Market growth in the forecast period, 2024-2028.